TRANSITIONAL PROVISIONS OF ITC AVAILMENT FOR EXISTING REGISTRANTS

1. Existent registrants under Central Excise, Service Tax and VAT on migration to GST would be allowed the amount of Cenvat credit on inputs, capital goods and input services carried forward in the last return filed.
2. Unavailed credit in respect of capital goods, i.e., the balance amount of credit that remains after subtracting the credit already availed would also be allowed.
3. Existent registrant has to file a declaration in GST FORM TANS-1 within 90 days from appointed date, i.e., 22nd June specifying amount of credit claimed and admissible as per earlier credit Rules. Thereafter, ITC can be availed in Electronic Credit Register.
4. In case of Input or input services that are received on/after 1st of July where duty/tax has been paid earlier then the assessee can claim its credit by recording invoice in his books of accounts by 30th July, 2017.